Meeder Asset Management Inc. Buys 15,329 Shares of Bristol-Myers Squibb (NYSE:BMY)

Meeder Asset Management Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 93.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 31,672 shares of the biopharmaceutical company's stock after buying an additional 15,329 shares during the period. Meeder Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $1,639,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BMY. OneAscent Financial Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $458,000. Knuff & Co LLC lifted its position in Bristol-Myers Squibb by 13.7% in the third quarter. Knuff & Co LLC now owns 11,238 shares of the biopharmaceutical company's stock worth $581,000 after purchasing an additional 1,350 shares during the period. Caprock Group LLC increased its holdings in Bristol-Myers Squibb by 35.5% in the 3rd quarter. Caprock Group LLC now owns 60,637 shares of the biopharmaceutical company's stock valued at $3,137,000 after buying an additional 15,870 shares during the period. Pathstone Holdings LLC raised its stake in shares of Bristol-Myers Squibb by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 188,950 shares of the biopharmaceutical company's stock valued at $9,776,000 after buying an additional 4,062 shares in the last quarter. Finally, Baron Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $210,000. Institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BMY shares. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Leerink Partners upgraded Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Finally, Citigroup lifted their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $54.07.

Bristol-Myers Squibb Trading Up 2.5 %

BMY traded up $1.41 during mid-day trading on Tuesday, reaching $58.21. The stock had a trading volume of 12,995,863 shares, compared to its average volume of 14,439,867. The firm's fifty day simple moving average is $53.08 and its two-hundred day simple moving average is $47.47. The stock has a market capitalization of $118.06 billion, a P/E ratio of -16.21, a P/E/G ratio of 15.08 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter last year, the business earned $2.00 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of the business's stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company's stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.